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Home | News | Market Studies

High Rents Prevent Potential Buyers From Owning Homes

New Homes

What this means for the future of the housing market could be trouble. The effects of rents high enough to keep prospective buyers away from houses is particularly hitting millennials, who are already saddled with uncertain job prospects and enormous student debt, according to Zillow Chief Economist Stan Humphries.

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Flipped Home Sales Down in Q2

FHA flipping rules

Nationwide sales of flipped homes dropped both quarter-over-quarter and year-over year in the second quarter of 2014, according to the Q2 2014 U.S. Home Flipping Report released by RealtyTrac on August 22.

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Fixed Mortgage Rates Sink to Lowest Level of 2014

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A year ago, the 30-year FRM averaged 4.58 percent—its peak in 2013. The average interest rate for a 15-year FRM this week was 3.23 percent (0.6 point), down from 3.24 percent a week ago. Adjustable rates were mixed for the week. According to Freddie Mac, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.95 percent (0.5 point) in the latest survey, down slightly from last week, while the 1-year ARM edged up to 2.38 percent (0.5 point).

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Non-Foreclosure Solutions Outpace Foreclosures 4 to 1

money-two

Approximately 421,000 homeowners used various non-foreclosure solutions from mortgage servicers in the second quarter of 2014, according to recently released Q2 2014 data from HOPE NOW, a private sector alliance between various players in the mortgage industry. The number of non-foreclosure solutions in Q2 was almost quadruple the number of foreclosure sales for the same period (115,000), according to HOPE NOW.

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Delinquency Rate Falls for 10th Straight Quarter

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The national mortgage delinquency rate declined for the 10th consecutive quarter in Q2 2014 and is at its lowest level since 2008, according to TransUnion's quarterly mortgage report. The rate of U.S. mortgage delinquencies, defined as those in which the borrower is more than 60 days delinquent on the mortgage account, fell from 3.61 percent in Q1 to 3.46 percent for Q2 (a change of 4.2 percent).

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California Home Sales Still Slow Despite 3.9 Percent Jump

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Single family home and condominium sales in California experienced a month-over-month increase of 3.9 percent for July but saw a 9.2 percent decline year-over-year, according to PropertyRadar's July 2014 Real Property Report for California. Sales for single family homes and condos for the first seven months of 2014 year-to-date are at their lowest levels since 2008, the report stated.

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